BTCUSDT 4H long setup; C-Fork swing setup for Bitcoin
TA explained
C-Fork long setup for BTC. Price made a huge drop two weeks ago after which a bounce happened followed by some consolidation. First trendline was broken and after that a higher low was created.
Second top was created which serves as the connection point for the fork line of the C-Fork. After the rejection a new higher low was formed followed by a breakout of the trendline. Now the C-Fork structure is completed. The target to aim for based on the C-Fork setup is the FIB 0.618 level so we took it as second target.
Trade setup
Best entries: 36000 - 37180
TP1: 43361
TP2: 46984
TP3: 51855
SL: 32551
RR: 4.54
Max leverage: 2x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
C-Fork long setup for BTC. Price made a huge drop two weeks ago after which a bounce happened followed by some consolidation. First trendline was broken and after that a higher low was created.
Second top was created which serves as the connection point for the fork line of the C-Fork. After the rejection a new higher low was formed followed by a breakout of the trendline. Now the C-Fork structure is completed. The target to aim for based on the C-Fork setup is the FIB 0.618 level so we took it as second target.
Trade setup
Best entries: 36000 - 37180
TP1: 43361
TP2: 46984
TP3: 51855
SL: 32551
RR: 4.54
Max leverage: 2x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
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